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If you’d like to learn more about how you can hold Bitcoin in your retirement portfolio, book a call with one of our Swan IRA specialists today.
IRA contributions are net new additions of funds into a designated retirement account. Funds added as a contribution were not legally within the retirement structure prior to the contribution (this stands in contrast to transfers or rollovers, which are transfers of funds already within retirement structures).
You can contribute new USD to your Swan IRA through three methods:
1.) Wire transfer
2.) Direct Purchasing (Instant ACH)
The first two options are shown in the drop-down menu of the Swan IRA, as shown below. For instant ACH deposits, click on "Buy IRA Bitcoin" yellow button. Know that the wiring instructions for your IRA account are different than the instructions for your personal account.
The IRS maintains annual contribution limits. These limits vary depending on your age and income. Thus, Swan does restrict customers' deposits into their IRAs based on these limits. It is your responsibility to make sure you stay within the contribution limits. Read here for IRS guidance on contribution limits. Please note that purchasing fees count toward contribution limits, but monthly maintenance fees do not.
Each tax season, Swan makes your IRS tax forms available directly from the Swan Dashboard. If you have any questions, reach out to us at ira@swanbitcoin.com.
If you’d like to learn more about how you can hold Bitcoin in your retirement portfolio, book a call with one of our Swan IRA specialists today.